Mortgage Advice Bureau has completed its move to the Main Market of the London Stock Exchange which it said represents a “natural progression” for the business.
The listed company has confirmed the admission of its ordinary shares of 0.1 pence each to the Equity Shares (Commercial Companies) category of the Official List and to trading on the Main Market for listed securities of the London Stock Exchange. Simultaneously, the ordinary shares have been cancelled from trading on AIM.
Chief executive Peter Brodnicki said admission to the Main Market “marks an important milestone in MAB’s development” and reflects the “scale, quality and maturity of the business we have built since joining AIM in 2014”.
“Our reach now spans estate agency, new build, major national digital lead sources, and engagement with customers at an earlier stage of the home-moving journey,” he added. “Our proposition is underpinned by a proprietary technology platform, with AI increasingly acting as a significant enabler, and a unique dataset built over 25 years of customer interactions.
“Together, these capabilities support strong and resilient lead flow across economic cycles and reinforce our position as a leading, tech-enabled intermediary platform.
“We believe admission to the Main Market is a natural progression for a business of our scale and ambition, enhancing our profile and providing access to a broader pool of investors, with the ambition of meeting the criteria for inclusion in the FTSE 250 index over time.”
Keefe, Bruyette & Woods acts as sponsor, nominated adviser and joint broker to MAB. Other joint brokers include Berenberg and Peel Hunt LLP.